GoldmanSachs666 Message Board

Fraud*According to the Collins English Dictionary 10th Edition fraud can be defined as: "deceit, trickery, sharp practice, or breach of confidence, perpetrated for profit or to gain some unfair or dishonest advantage".[1] In the broadest sense, a fraud is an intentional deception made for personal gain or to damage another individual; the related adjective is fraudulent. The specific legal definition varies by legal jurisdiction. Fraud is a crime, and also a civil law violation. Defrauding people or entities of money or valuables is a common purpose of fraud, but there have also been fraudulent "discoveries", e.g. in science, to gain prestige rather than immediate monetary gain*As defined in Wikipedia

Rep. Darrell Issa (R-CA), one of the richest members of Congress and the chairman of the House Oversight Committee who promised a hearing a day after the November 2010 elections, has always been slimy little creature who refuses to accept responsibility for his own misbehavior, everything from car theft to lying about his military history.

If irony hadn't been nearly obliterated in the past decade, much might have been made about his becoming head honcho of the committee once chaired by bulldog Democrat Henry Waxman. However, ThinkProgress may have resuscitated it with its look into financial records that show Issa was adding $600,000 to his multi-million-dollar investment in Goldman-Sachs at the same time last year that he was initiating an investigation of a Securities and Exchange lawsuit into alleged fraud at the financial giant.

"The events of the past five days have fueled legitimate suspicion on the part of the American people that the Commission has attempted to assist the White House, the Democratic Party, and Congressional Democrats by timing this suit to coincide with the Senate's consideration of financial regulatory legislation," Issa says [in April 2010].

Issa's staff tells CBS News that they currently have no hard evidence that the SEC violated federal law by colluding with the White House. But they argue the timeline and the circumstances are fishy, and they point to two things in particular: the announcement of the fraud suit the week before Democrats planned to bring their financial reform bill to the Senate floor, and the amazing speed with which Organizing for America managed to purchase a Google ad directing people who typed "Goldman Sachs SEC" on Google to donate money at my.barackobama.com once the news broke on the New York Times website.

Issa generated big headlines with this move. The SEC inspector general later concluded the commission had not let politics influence its decision to launch the fraud lawsuit, which Goldman settled out of court. The massive two-years-in-the-making final assessment of the financial crisis found, in the words of Sen. Carl Levin, that "Goldman clearly misled their clients and they misled the Congress.”

Issa never took any heat for that. The question is whether he will now. As ThinkProgress discovered:

According to documents filed recently with the House Clerk, Issa went on a buying spree of high yield Goldman Sachs bonds at the same time he was running defense for the investment bank in Congress. From February to December of 2010, Issa bought 12 Goldman Sachs High Yield Fund Class A bonds, each worth up to $50,000 (view page 10 the disclosure here). Many of the bonds were purchased in the months after he filed his letter to the SEC. The $600,000 in new Goldman Sachs investments added to Issa’s already multimillion dollar stake in the company, valued from $5.1 to $15.5 million.

Issa has faced accusations that he has used his considerable political power to enrich himself. Earlier this year, ThinkProgress revealed that Issa had requested nearly $1 million in earmark projects that would have benefitted real estate owned by Issa and his family.

Matter and anti-matter have about as much chance of surviving a chance encounter in the same room as do ethics and Darrell Issa.

13
COMMENTS:

The United States Supreme Court now sees its central task as comforting the already comfortable and afflicting those already afflicted.

If you are a large corporation or a political candidate backed by lots of private money, be assured that the court’s conservative majority will be there for you, solicitous of your needs and ready to swat away those pesky little people who dare to contest your power.

How Greed Destroys AmericaAmerica’s corporate chieftains are living like kings while the middle class stagnates and shrivels

By posing as populists hostile to “government social engineering,” the Right succeeded in duping large numbers of middle-class Americans into seeing their own interests – and their “freedom” – as in line with corporate titans who also decried federal regulations, including those meant to protect average citizens, like requiring seat belts in cars and discouraging cigarette smoking.

A Land for Billionaires

The consequences of several decades of Reaganism and its related ideas are now apparent. Wealth has been concentrated at the top with billionaires living extravagant lives that not even monarchs could have envisioned, while the middle class shrinks and struggles, with one everyman after another being shoved down into the lower classes and into poverty.

Millions of Americans forego needed medical care because they can’t afford health insurance; millions of young people, burdened by college loans, crowd back in with their parents; millions of trained workers settle for low-paying jobs; millions of families skip vacations and other simple pleasures of life.

Corruption?...where does it start? where does it end? Who do you call?

William Galison Author of Article on the Murder of Sunny Sheu Assaulted and Threatened by Undercover Cop

I have no question that this cop was surveilling me because of my involvement with the Sunny case. He may have been casing my building for a way to get in. There is no question that many very bad people want me dead. Sunny was killed for exposing financial corruption. I have exposed murder.

They killed Sunny partly to stop his investigation of Golia and partly to send a warning to the public that you can't fight corruption.

“The evolution of executive grandeur — from very comfortable to jet setting — reflects one of the primary reasons that the gap between those with the highest incomes and everyone else is widening,” according to the Post.

“For years, statistics have depicted growing income disparity in the United States, and it has reached levels not seen since the Great Depression.

Despite the ongoing, international financial malaise, the British newspaper The Guardian notes that, “The globe’s richest have now recouped the losses they suffered after the 2008 banking crisis. They are richer than ever, and there are more of them — nearly 11 million — than before the recession struck.

The annual wealth report by Merrill Lynch and Capgemini finds that the assets of these so-called “high net worth individuals” reached $42.7 trillion in 2010, a rise of nearly ten percent from the previous year at a time when, as The Guardian observed, “austerity budgets were implemented by many governments in the developed world.”

More than half of the world’s richest live in Japan, Germany and here in the United States.

Last year’s Dodd-Frank financial reform legislation requires publicly traded companies to report the median of annual total compensation for workers, the total compensation of the CEO, and the ratio between the two.

Big business has lobbied loudly against the reporting requirement, and on Wednesday, the House Financial Services Committee voted 33-21 to repeal it.

The bill to repeal is sponsored by rookie Congresswoman Nan Hayworth, R-New York, whose official biography cites “reducing regulatory burdens on businesses” as one of her top priorities.

How Much Would It Cost To Buy Congress Back From Special Interests? (June 30, 2011)

Here's a thought: let's buy our Congress back from the special interests who now own it.

We all know special interests own the U.S. Congress and the Federal machinery of governance (i.e. regulatory capture). How much would it cost the American citizenry to buy back their Congress? The goal in buying our Congress back from the banking cartel et al. would not be to compete with the special interests for congressional favors--it would be to elect a Congress which would eradicate their power and influence altogether.

A tall order, perhaps, but certainly not impossible, if we're willing to spend the money to not just match special interest contributions to campaigns but steamroll them.

A seat in the U.S. Senate is a pricey little lever of power, so we better be ready to spend $50 million per seat. Seats in smaller states will be less, but seats in the big states will cost more, but this is a pretty good average.

"The only thing that Cantor missed is that usually they say when President Obama does something like that or when we do something like that they usually accuse us of 'class warfare.' When in fact, we're not committing class warfare, we're just pointing out how they've committed class warfare for two decades by loading up the tax code with all these breaks for people who already have privilege," Brown said.

What Does Congress Do When They Are Caught Red Handed Caving To Special Interest Groups, and are Deeply Captured, Why They Give Regulatory Powers To The Very People Whom The Regulation Applies To. That's Right Congress, Let's Try Self Regulation In Light Of The Greatest Financial Attack On America By Those Who Now Will Wield The Power Of Self Regulation. Cowardly and Pathetic Move Idiots !!

The revolving door between Goldman Sachs Group Inc. (GS) and central banks is spinning again.

The fifth-biggest U.S. bank by assets said yesterday it hired Bank of England economist Andrew Benito after recruiting Huw Pill from the European Central Bank in May and Naohiko Baba from the Bank of Japan in January. Moving in the other direction, Ben Broadbent, Goldman Sachs’s ex-chief U.K. economist, started at the Bank of England last month. Former vice chairman Mario Draghi will take up the presidency of the ECB in November.

The targeting of central banks reflects the value banks such as New York-based Goldman Sachs place on the skills economists gather working in policy-making at a time when growth in advanced economies is struggling to gain momentum. Meantime, governments seeking top officials are again turning to Goldman Sachs for top decision-makers 12 months after it settled U.S. fraud claims and almost four years since the start of the worst financial crisis since the Great Depression.

Read just about any article in the financial press about a Securities and Exchange Commission settlement with some accused fraudster, and you probably will see two lines bound to get a lot of eyes rolling.

One is that the defendant neither admitted nor denied the SEC’s claims. The other is that the penalties include a court injunction or SEC order barring the alleged crook from breaking the securities laws in the future, as if it had been perfectly legal to violate them beforehand. No one, it seems, ever gets nailed for anything.

As if that weren’t maddening enough, here’s an open secret: The SEC hardly ever enforces these obey-the-law orders.

Good post. I study something tougher on totally different blogs everyday. It should at all times be stimulating to learn content material from other writers and follow a bit something from their store...

GS666 #4 on TopSites List

Famous Quotes

The men the American people admire most extravagantly are the greatest liars; the men they detest most violently are those who try to tell them the truth. … H.L. Mencken

An age is called Dark not because the light fails to shine, but because people refuse to see it…James Albert Michener, novelist (1907-1997)

It is impossible to calculate the moral mischief, if I may so express it, that mental lying has produced in society. When a man has so far corrupted and prostituted the chastity of his mind as to subscribe his professional belief to things he does not believe he has prepared himself for the commission of every other crime. … Thomas Paine 1737-1809, Anglo-American Political Theorist, Writer

Laws just or unjust may govern mens actions. Tyrannies may restrain or regulate their words. The machinery of propaganda may pack their minds with falsehood and deny them truth for many generations of time. But the soul of man thus held in trance or frozen in a long night can be awakened by a spark coming from God knows where and in a moment the whole structure of lies and oppression is on trial for its life.: Sir Winston ChurchillWhen governments fear the people, there is liberty. When the people fear the government, there is tyranny. - Thomas Jefferson

When cheaters prosper, we end up with the worst possible system and to call it a free market system is an obscenity. -William BlackWhen the people fear their government, there is tyranny; when the government fears the people, there is liberty." - Thomas JeffersonI believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property - until their children wake-up homeless on the continent their fathers conquered. Thomas Jefferson - 1802

Don't be afraid to see what you see.

..................................... Ronald Reagan

When the people and the government fear Banksters like Goldman Sachs and JP Morgan, there is economic dictatorship that will destroy the very fabric of our existence as a civilized society.Mike Morgan

Let me control the money of a nation and I care not who makes its laws.Meyer Amsheil Rothschild

Together We Can Make A Difference!Larry Rubinoff*************Send your "Famous Quotes" to info@goldmansachs666.com